What is the difference between economic activities and non-economic activities?

Solution

The difference are:

Economic Activities

Non-Economic Activities

(i)Economic activities add value to the national income.
(ii)Economic activities have two parts — market activities and non-market activities.
(iii)Market activities involve remuneration to any one who performs i.e., activity performed for pay or profit. Non-market activities are the production for self-consumption.

(i) Non-Economic activities do not add any value of the national income.

(ii) Non-Economic activities do not contribute to the flow of goods and services in an economy.

(iii) Increase in non-economic activities is not an indicator of the economic progressing.

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What is the difference between economic activities and non-economic activities?

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